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FDA Approves 1st Biosimilar But Punts On Naming Guidance

The U.S. Food and Drug Administration announced Friday it had approved Sandoz Inc.’s Zarxio, a copycat of Amgen Inc.’s anti-infection drug Neupogen, marking the first biosimilar allowed for use in the U.S., although it did not release its long-awaited guidance on naming such products.

  • J&J, Ethicon Hit For $5.7M In Calif. Pelvic Mesh Trial

    A California jury on Thursday saddled Johnson & Johnson’s Ethicon Inc. unit with a $5.7 million verdict, siding with a woman who claimed her doctor had given her an older, heavier version of a pelvic mesh product that will cause her a lifetime of pain.

  • Big Banks All Pass Stress Test, Fed Says

    The Federal Reserve on Thursday said that all 31 of the largest banks operating in the U.S. passed its annual stress tests, which are used to examine their ability to withstand a severe economic downturn.

  • NJ Reveals $225M Deal With Exxon Over Refinery Pollution

    New Jersey Gov. Chris Christie's administration on Thursday publicly revealed details of a controversial $225 million settlement with ExxonMobil Corp. over environmental pollution from refinery operations in Bayonne and Linden and defended the deal that critics have said severely undervalues nearly $9 billion in alleged damages.

  • Bank Of Beirut Fined £2M For Stalling UK Regulator's Inquiry

    The U.K.’s Financial Conduct Authority imposed a £2.1 million ($3.2 million) fine Thursday on Bank of Beirut for giving “misleading information” during FCA inquiries and blocked the bank from signing up new customers in high-risk areas for four months.

  • Wachtell Guides AbbVie In $21B Pharmacyclics Buy

    Drugmaker AbbVie Inc. will pay $21 billion for Pharmacyclics Inc.,  the company announced Wednesday, a pickup that gives AbbVie, guided by Wachtell Lipton Rosen & Katz, access to one of the most promising cancer drugs on the market after a major deal-making flop last year.